Core Viewpoint - Datametrex AI Limited announced the passing of Honourable James Scott Peterson, a valued member of its Board of Directors, who contributed significantly to the company and the community through his legal and political expertise [1][2]. Group 1: Contributions and Legacy - Hon. James Peterson served on the Board since July 28, 2020, and was instrumental in shaping strategic initiatives aligned with global trade policies and corporate governance standards [2]. - His career included roles as a Member of Parliament, Minister of International Trade, and Secretary of State, where he advocated for economic prosperity and impactful trade policies in Canada [2]. - The CEO of Datametrex, Charles Park, highlighted Peterson's role as a mentor and his significant influence on the company's corporate strategy, emphasizing the lasting impact of his legacy [3]. Group 2: Company Overview - Datametrex is recognized as an innovative leader in Technology Solutions, Artificial Intelligence, Healthcare, and Mobile Gaming, focusing on enhancing operational efficiencies and business outcomes [4]. - The company is committed to innovation and aims to set new standards for business protocols through advanced technology solutions [4].

Desktop Metal, Inc. (NYSE:DM) Q1 2024 Earnings Conference Call May 9, 2024 8:30 AM ET Company Participants Michael Jordan - VP, Finance & Treasury Ric Fulop - Founder and CEO Jason Cole - CFO Conference Call Participants Troy Jensen - Cantor Jacob Stephan - Lake Street Operator Greetings, and welcome to Desktop Metal First Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instruc ...

[Part I. Financial Information](index=3&type=section&id=Part%20I.%20Financial%20Information) This section provides an overview of the company's financial performance, condition, and related disclosures for the period [Financial Statements (unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) This section presents the unaudited condensed consolidated financial statements for Q1 2024, including balance sheets, statements of operations, comprehensive loss, stockholders' equity, and cash flows, with accompanying notes Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $65,559 | $83,845 | | Total current assets | $197,323 | $216,137 | | Total Assets | $412,030 | $458,001 | | Total current liabilities | $69,787 | $70,104 | | Total Liabilities | $214,692 | $216,349 | | Total Stockholders' Equity | $197,338 | $241,652 | Condensed Consolidated Statements of Operations Highlights (in thousands) | Account | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | | :--- | :--- | :--- | | Total revenues | $40,600 | $41,316 | | Gross loss | $(2,206) | $(1,364) | | Loss from operations | $(49,389) | $(52,317) | | Net loss | $(52,098) | $(52,642) | | Net loss per share | $(0.16) | $(0.16) | Condensed Consolidated Statements of Cash Flows Highlights (in thousands) | Account | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | | :--- | :--- | :--- | | Net cash used in operating activities | $(17,409) | $(37,346) | | Net cash (used in) provided by investing activities | $(93) | $61,427 | | Net cash (used in) provided by financing activities | $(407) | $248 | | Cash, cash equivalents, and restricted cash at end of period | $66,387 | $106,459 | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail critical accounting policies and events, including liquidity, goodwill impairment, convertible notes, and significant restructuring initiatives like the '2024 Initiative' and 'Photopolymer Initiative' - Management believes that existing cash and short-term investments as of March 31, 2024, will be sufficient to fund operating and capital expenditure requirements for at least the next twelve months[18](index=18&type=chunk) - Goodwill was fully impaired as of December 31, 2023, with a balance of **$0** at March 31, 2024, and no additional goodwill impairment was recorded in Q1 2024[47](index=47&type=chunk)[48](index=48&type=chunk) - The company has **$115.0 million** in principal amount of 6.0% Convertible Senior Notes due 2027, with a net carrying value of **$112.7 million** as of March 31, 2024[55](index=55&type=chunk)[63](index=63&type=chunk) - On January 22, 2024, the company initiated the '2024 Initiative,' including a **~20% workforce reduction**, expecting at least **$50 million** in aggregate cost savings, with **$1.7 million** in restructuring charges recorded in Q1 2024[112](index=112&type=chunk)[114](index=114&type=chunk) - On March 14, 2024, the company approved the 'Photopolymer Initiative' to review strategic alternatives for its photopolymer business, resulting in a **$12.0 million** charge for incremental depreciation and amortization in Q1 2024[115](index=115&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=36&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's Q1 2024 performance, highlighting a 2% revenue decrease, significant cost reduction efforts, and improved Non-GAAP Adjusted EBITDA loss, while affirming sufficient liquidity for the next 12 months [Results of Operations](index=42&type=section&id=Results%20of%20Operations) Q1 2024 total revenue decreased by 2% YoY to $40.6 million, driven by product sales decline and a widened gross loss, despite some operating expense reductions Revenue by Type (in thousands) | Revenue Type | Q1 2024 | Q1 2023 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Products Revenue | $35,631 | $36,697 | $(1,066) | (3)% | | Services Revenue | $4,969 | $4,619 | $350 | 8% | | **Total Revenue** | **$40,600** | **$41,316** | **$(716)** | **(2)%** | Revenue by Geographic Region (in thousands) | Region | Q1 2024 | Q1 2023 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Americas | $28,585 | $27,041 | $1,544 | 6% | | EMEA | $9,447 | $10,259 | $(812) | (8)% | | APAC | $2,568 | $4,016 | $(1,448) | (36)% | | **Total Revenue** | **$40,600** | **$41,316** | **$(716)** | **(2)%** | - Gross loss increased by **62%** to **($2.2) million** in Q1 2024 from **($1.4) million** in Q1 2023, with total gross margin decreasing from **(3)%** to **(5)%** YoY[153](index=153&type=chunk)[155](index=155&type=chunk) - Operating expenses decreased overall, with R&D expenses falling **14%** to **$19.8 million** and General & Administrative expenses falling **11%** to **$16.2 million** due to cost-saving initiatives, while Sales and Marketing expenses increased **17%** to **$11.2 million**[157](index=157&type=chunk)[158](index=158&type=chunk)[159](index=159&type=chunk) [Non-GAAP Financial Information](index=46&type=section&id=Non-GAAP%20Financial%20Information) Non-GAAP results show improved gross margin and narrowed operating and Adjusted EBITDA losses for Q1 2024, reflecting the positive impact of cost-saving measures Reconciliation of GAAP to Non-GAAP Gross Margin (in thousands) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | GAAP gross margin | $(2,206) | $(1,364) | | Stock-based compensation | $568 | $680 | | Amortization of acquired intangible assets | $14,340 | $6,927 | | Restructuring expense | $(309) | $717 | | Acquisition-related and integration costs | $— | $479 | | **Non-GAAP gross margin** | **$12,393** | **$7,439** | Reconciliation of Net Loss to Adjusted EBITDA (in thousands) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net loss | $(52,098) | $(52,642) | | Interest expense | $1,491 | $811 | | Income tax benefit | $(198) | $(557) | | Depreciation and amortization | $24,185 | $13,433 | | **EBITDA** | **$(26,620)** | **$(38,955)** | | Change in fair value of investments | $1,317 | $179 | | Stock-based compensation expense | $7,838 | $9,313 | | Restructuring expense | $2,592 | $3,618 | | Acquisition-related and integration costs | $1,255 | $1,406 | | **Adjusted EBITDA** | **$(13,618)** | **$(24,439)** | [Liquidity and Capital Resources](index=51&type=section&id=Liquidity%20and%20Capital%20Resources) The company ended Q1 2024 with $66.1 million in cash, believing it sufficient for the next 12 months, with net cash used in operating activities significantly improving due to cost-saving initiatives - As of March 31, 2024, the company had **$66.1 million** in cash, cash equivalents, and short-term investments and an accumulated deficit of **$1,684.3 million**[183](index=183&type=chunk) - The company anticipates at least **$50 million** of aggregate cost savings from its 2024 Initiative, with sequential cost reductions across the first half of 2024[191](index=191&type=chunk) - Net cash used in operating activities was **$17.4 million** for Q1 2024, a significant improvement from the **$37.3 million** used in Q1 2023[196](index=196&type=chunk)[197](index=197&type=chunk)[198](index=198&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=56&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risks are interest rate fluctuations on investments and foreign currency exchange rates, which are currently not hedged due to immaterial exposure - The company's exposure to interest rate risk is primarily from its **$66.1 million** portfolio of cash, cash equivalents, and short-term investments, with a 10% change in interest rates expected to have an immaterial impact[208](index=208&type=chunk) - Foreign currency risk exists due to operations in Europe and Asia, but the company does not currently use foreign currency forward contracts to manage this risk[209](index=209&type=chunk) [Controls and Procedures](index=57&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were not effective as of March 31, 2024, due to identified material weaknesses, though financial statements are deemed fairly presented - As a result of previously identified material weaknesses, the CEO and CFO concluded that disclosure controls and procedures were not effective as of March 31, 2024[210](index=210&type=chunk) - Notwithstanding the material weaknesses, management concluded that the financial statements in the 10-Q are fairly presented in all material respects[211](index=211&type=chunk) [Part II. Other Information](index=57&type=section&id=Part%20II.%20Other%20Information) This section covers legal proceedings, risk factors, equity security sales, and other miscellaneous disclosures relevant to the company's operations [Legal Proceedings](index=57&type=section&id=Item%201.%20Legal%20Proceedings) The company is defending against two class action lawsuits related to the ExOne Merger and EnvisionTEC's manufacturing practices, both believed to be without merit - The company is a defendant in a class action lawsuit (Campanella v. Rockwell) related to the ExOne Merger, alleging inadequate disclosure about a whistleblower investigation at EnvisionTEC[216](index=216&type=chunk)[217](index=217&type=chunk) - The company is also defending a securities class action lawsuit alleging false or misleading statements about EnvisionTEC's practices, where a motion to dismiss was granted but the lead plaintiff has appealed the decision[218](index=218&type=chunk) [Risk Factors](index=59&type=section&id=Item%201A.%20Risk%20Factors) This section outlines significant risks including commercialization delays, market adoption, competition, integration challenges, financial losses, potential delisting, and internal control weaknesses - The company may experience significant delays in the design, production, and launch of its additive manufacturing solutions and may be unable to successfully commercialize them on planned timelines[221](index=221&type=chunk)[223](index=223&type=chunk) - The company has a history of losses and may not achieve or maintain profitability in the future, having incurred a net loss of **$323.3 million** in 2023[293](index=293&type=chunk) - On November 22, 2023, the company was notified by the NYSE of non-compliance with the minimum **$1.00** average closing price requirement, posing a risk of delisting if not cured[370](index=370&type=chunk) - Material weaknesses in internal control over financial reporting existed as of December 31, 2023, due to incomplete integration of acquired subsidiaries and limited accounting personnel[387](index=387&type=chunk)[392](index=392&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds, and Issuer Purchases of Equity Securities](index=114&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds%2C%20and%20Issuer%20Purchases%20of%20Equity%20Securities) This section confirms prior reporting of unregistered security sales and details the company's repurchase of 535,893 shares for tax withholding purposes related to employee stock awards Issuer Purchases of Equity Securities (Q1 2024) | Period | Total number of shares purchased | Average price paid per share | | :--- | :--- | :--- | | January 2024 | 5,995 | $0.73 | | February 2024 | 115,366 | $0.59 | | March 2024 | 414,532 | $0.61 | | **Total** | **535,893** | | - All shares purchased by the issuer were withheld from employees to satisfy minimum tax withholding obligations related to the issuance of Class A common stock[397](index=397&type=chunk) [Defaults Upon Senior Securities](index=115&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reports no defaults upon senior securities during the period - None[398](index=398&type=chunk) [Mine Safety Disclosures](index=115&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[399](index=399&type=chunk) [Other Information](index=115&type=section&id=Item%205.%20Other%20Information) The company reports no other material information not previously disclosed, confirming no director or officer trading arrangement adoptions or terminations - During the three months ended March 31, 2024, no directors or officers adopted or terminated a 'Rule 10b5-1 trading arrangement' or 'non-Rule 10b5-1 trading arrangement'[403](index=403&type=chunk) [Exhibits](index=115&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed as part of the Quarterly Report on Form 10-Q, which include officer certifications and Inline XBRL data files

[Q1 2024 Financial Results](index=1&type=section&id=Q1%202024%20Financial%20Results) Desktop Metal's Q1 2024 results show operational improvements and cost reductions, with a reaffirmed full-year financial outlook [Business and Financial Highlights](index=1&type=section&id=Business%20and%20Financial%20Highlights) Desktop Metal reported a slight revenue decrease but significant Adjusted EBITDA improvement in Q1 2024, driven by cost reductions Q1 2024 Financial Performance | Financial Metric | Q1 2024 | Q1 2023 | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | $40.6 million | $41.3 million | -1.7% | | Net Loss | $(52.1) million | $(52.6) million | N/A | | Adjusted EBITDA | $(13.6) million | $(24.4) million | +44.3% Improvement | | Non-GAAP Gross Margin | 30.5% | N/A | +69.9% Improvement | - **Cost Reduction:** The company continues cost reduction plans, aiming for positive adjusted EBITDA in H2 2024, with Non-GAAP operating expenses down **45%** over nine consecutive quarters[4](index=4&type=chunk)[5](index=5&type=chunk) - **Portfolio Optimization:** Management is exploring strategic alternatives for its photopolymer portfolio to accelerate profitability[5](index=5&type=chunk) - **Cash Management:** The rate of cash consumption declined by **47%** compared to the first quarter of the previous year[9](index=9&type=chunk) - **Desktop Health:** Launched the ScanUp™ digital dentistry subscription program and Flexcera™ Base Ultra+ dental resin for stronger 3D printed dentures[9](index=9&type=chunk) - **Evonik Partnership:** Expanded partnership with Evonik to qualify INFINAM® ST 6100 L on large format Additive Manufacturing 2.0 systems[9](index=9&type=chunk) [Financial Outlook](index=2&type=section&id=Financial%20Outlook) Desktop Metal reaffirmed its full-year 2024 guidance, projecting revenues between $175 million and $215 million and an Adjusted EBITDA loss of $10 million to $30 million Full Year 2024 Guidance | Metric | Full Year 2024 Guidance | | :--- | :--- | | Revenue | $175 million to $215 million | | Adjusted EBITDA | $(30) million to $(10) million | [Consolidated Financial Statements](index=4&type=section&id=Consolidated%20Financial%20Statements) The consolidated financial statements detail the company's financial position and performance for Q1 2024, showing decreased assets, stable net loss, and improved cash flow from operations [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to $412.0 million, with cash and equivalents declining, while liabilities remained stable and equity decreased Balance Sheet Items (in thousands) | Balance Sheet Item | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $65,559 | $83,845 | | Total current assets | $197,323 | $216,137 | | Total Assets | $412,030 | $458,001 | | Total current liabilities | $69,787 | $70,104 | | Total Liabilities | $214,692 | $216,349 | | Total Stockholders' Equity | $197,338 | $241,652 | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For the three months ended March 31, 2024, total revenues were $40.6 million, a slight decrease, resulting in a gross loss of $(2.2) million and a net loss of $(52.1) million Income Statement Items (in thousands) | Income Statement Item | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Total revenues | $40,600 | $41,316 | | Gross loss | $(2,206) | $(1,364) | | Loss from operations | $(49,389) | $(52,317) | | Net loss | $(52,098) | $(52,642) | | Net loss per share | $(0.16) | $(0.16) | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities significantly improved, decreasing to $(17.4) million in Q1 2024, with the ending cash balance at $66.4 million Cash Flow Items (in thousands) | Cash Flow Item | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net cash used in operating activities | $(17,409) | $(37,346) | | Net cash (used in) provided by investing activities | $(93) | $61,427 | | Net cash (used in) provided by financing activities | $(407) | $248 | | **Ending Cash, Cash Equivalents, and Restricted Cash** | **$66,387** | **$106,459** | [Non-GAAP Financial Measures](index=10&type=section&id=Non-GAAP%20Financial%20Measures) Non-GAAP measures show significant operational improvements in Q1 2024, with Adjusted EBITDA improving and Non-GAAP gross margin increasing Reconciliation to Adjusted EBITDA (in thousands) | Reconciliation to Adjusted EBITDA | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net loss | $(52,098) | $(52,642) | | Adjustments (Depreciation, Amortization, Stock Comp, etc.) | $38,480 | $28,203 | | **Adjusted EBITDA** | **$(13,618)** | **$(24,439)** | Reconciliation to Non-GAAP Gross Margin (in thousands) | Reconciliation to Non-GAAP Gross Margin | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | GAAP gross margin | $(2,206) | $(1,364) | | Stock-based compensation | $568 | $680 | | Amortization of acquired intangible assets | $14,340 | $6,927 | | Other adjustments | $(309) | $1,196 | | **Non-GAAP gross margin** | **$12,393** | **$7,439** | Reconciliation to Non-GAAP Operating Expenses (in thousands) | Reconciliation to Non-GAAP Operating Expenses | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | GAAP operating expenses | $47,183 | $50,953 | | Adjustments (Stock Comp, Amortization, etc.) | $(18,548) | $(15,976) | | **Non-GAAP operating expenses** | **$28,635** | **$34,977** |

Today, massive short-squeeze opportunities aren’t as common as they once were. The advent of rapid, high-frequency trading and automated management systems lets short sellers closely track a stock’s movement and jump into action before the conditions for a short squeeze fully materialize. Still, certain heavily shorted stocks present the potential for quick gains as short sellers exit their positions. But high short interest isn’t the best indicator on its own — you have to look at the company’s underlying ...

Desktop Metal, Inc. (NYSE:DM) Q4 2023 Results Conference Call March 15, 2024 8:30 AM ET Company Participants Michael Jordan - VP, Finance & Treasury Ric Fulop - CEO, Founder Jason Cole - CFO Conference Call Participants Greg Palm - Craig-Hallum Troy Jensen - Cantor Fitzgerald Jacob Stephan - Lake Street Capital Markets Operator Greetings, and welcome to Desktop Metal’s Fourth Quarter and Full Year 2023 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. I woul ...

BOSTON--(BUSINESS WIRE)--Desktop Metal, Inc. (NYSE: DM), a global leader in Additive Manufacturing 2.0 technologies for mass production, today announced its financial results for the fourth quarter and full year ended December 31, 2023. “ Despite a challenging capital investment environment led by elevated interest rates and slower sales cycles, I’m proud that Team DM buckled down and delivered a much improved operating performance including reduced not loss and a record adjusted EBITDA performance,” said ...

company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act. Large accelerated filer ☐ Accelerated filer ☒ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant t ...

Exhibit 99.1 Desktop Metal Announces Fourth Quarter and Full Year 2023 Financial Results March 15, 2023 BOSTON--(BUSINESS WIRE)-- Desktop Metal, Inc. (NYSE: DM), a global leader in Additive Manufacturing 2.0 technologies for mass production, today announced its financial results for the fourth quarter and full year ended December 31, 2023. "Despite a challenging capital investment environment led by elevated interest rates and slower sales cycles, I'm proud that Team DM buckled down and delivered a much imp ...

BOSTON--(BUSINESS WIRE)--Desktop Metal, Inc. (NYSE: DM) today announced it will report financial results for the fourth quarter and full year ended December 31, 2023 before the market opens on Friday, March 15, 2024. At this time, a summary presentation will also be available online at the Events & Presentations section of Desktop Metal’s Investor Relations website, https://ir.desktopmetal.com. Desktop Metal will host a conference call on the same day at 8:30 a.m. ET to discuss the results. Participants ma ...